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Sentiment for riskier assets muted

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Foreign currency update and market news

New Zealand Dollar

The New Zealand Dollar is little changed against its major peers as the markets continue to be jittery following last week’s disappointing jobs report out of the USA. Sentiment for riskier assets was also muted due to renewed tensions in Ukraine. Thousands of pro Russian protesters clashed with police in the east of the country, raising concerns of a military intervention like the one seen in the Crimea.

Pound Sterling

The Pound is little moved against its peers due to a lack of domestic UK data released today. The session promises to be fairly quiet due to a lack of key data releases from the US and Eurozone. Investors instead will be looking ahead to Tuesday’s manufacturing and industrial production reports and Wednesday’s balance of trade report. The main event of the week however will be Thursday’s Bank of England interest rate decision and its latest statement on its quantitative easing policy.

US Dollar

The US Dollar was stronger against the Euro ahead of the release of March’s Federal Reserve policy meeting minutes on Wednesday. Currencyfair said The currency is likely to see muted trading today due a lack of key economic data releases.

The Euro

The Euro remained under pressure against a number of peers after the European Central Bank indicated last week that it was considering implementing unconventional monetary policy in order to stave off the threat of deflation in the Eurozone. The currency did find some support early in the session from data which showed that industrial production in Spain and Germany came in better-than-expected.

Australian Dollar

The ‘Aussie’ is close to a four-month high against the US Dollar as it held onto a three-week run of gains. Data released early in the session showed that that job advertisements in the South Pacific nation increased by 1.4% in March, after a 4.7% increase in February, whose figure was revised down from a previously estimated 5.1% gain.

Canadian Dollar

The Canadian Dollar rallied to its strongest level in six weeks last week after data showed that the economy added more jobs than forecast last month. The overall unemployment rate also fell unexpectedly.

South African Rand

The Rand remains softer against its peers to a reduction in demand for riskier assets following last week’s disappointing US jobs data and as a strike in the nation’s platinum mining sector drags on.

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